Institutional level crypto trading outfit, Atom Asset Exchange (AAX) said it has a plan to team up with Solidus Labs as it has plans to use Solidus Labs resources to combat the crypto market manipulations.
The exchange website has said that it plans to use Solidus Labs surveillance equipment to monitor the market in relationships to guidelines by the authority.
Crypto forensics is one topic that has been discussed around the crypto market these days because regulators are hammering on the fact that exchanges should keep watch over their markets to check market manipulations.
This move, as said by the authorities, will rid the crypto space of fraud, money laundering, and eliminate terrorism financing.
AAX to use Solidus Labs tools to check crypto market manipulations
According to a press statement released by the exchange, AAX said it is planning to make use of the equipment provided by Solidus Labs to keep watch over their platform.
To cement the partnership, AAX will be given access by Solidus Labs to access their security software to check crypto market manipulations and rid the market of any acts of laundering.
Speaking on the partnership, Thor Chan, CEO of AAX, said we believe that every investor deserves a fair chance at being on the exchange market is a place that markets prices and volumes are correct. We are delighted to announce that our partnership with Solidus Labs will give that to all our investors, he further added.
Eliminating crypto market manipulations on a bigger scale in the market
With the rate at which concerns are growing over laundering in the crypto space with most crypto exchange making moves towards checking and combating crypto market manipulations.
Chainlysis recently announced its partnership with some platforms to debut its know-your-transaction feature. Popular exchanges currently making use of the feature include Paxful and Bitfinex.
Nasdaq is also one firm that has initiated the market checking strategy to firms across the crypto industries via SMARTS, a tool that checks crypto market manipulations.